Occidental Petroleum (NYSE:OXY) Shares Down 0.9% - Time to Sell?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s share price traded down 0.9% on Tuesday . The stock traded as low as $51.92 and last traded at $52.23. 2,607,081 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 9,603,845 shares. The stock had previously closed at $52.68.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OXY shares. Raymond James lifted their target price on Occidental Petroleum from $77.00 to $78.00 and gave the company a "strong-buy" rating in a research report on Thursday, November 21st. Jefferies Financial Group boosted their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a "hold" rating in a report on Tuesday, November 12th. Mizuho lowered their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Wells Fargo & Company dropped their price target on shares of Occidental Petroleum from $56.00 to $53.00 and set an "equal weight" rating for the company in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $56.00 price objective on shares of Occidental Petroleum in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum has an average rating of "Hold" and an average price target of $62.19.

Occidental Petroleum Price Performance

The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The stock's fifty day moving average price is $49.62 and its two-hundred day moving average price is $53.61. The firm has a market capitalization of $48.90 billion, a price-to-earnings ratio of 13.57 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum's dividend payout ratio (DPR) is 22.92%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average cost of $45.60 per share, with a total value of $164,799,084.00. Following the transaction, the insider now directly owns 264,178,414 shares of the company's stock, valued at approximately $12,046,535,678.40. This represents a 1.39 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.31% of the company's stock.

Institutional Trading of Occidental Petroleum

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fortitude Family Office LLC grew its position in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock worth $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum during the third quarter worth about $32,000. Transamerica Financial Advisors Inc. acquired a new position in Occidental Petroleum in the 3rd quarter valued at about $50,000. Exchange Traded Concepts LLC purchased a new stake in Occidental Petroleum during the 3rd quarter valued at approximately $87,000. Finally, Kennebec Savings Bank acquired a new stake in Occidental Petroleum during the 3rd quarter worth approximately $93,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.